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Author Topic: I am Planning to make my own Exchange  (Read 3032 times)
AltCreators
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September 13, 2017, 02:38:07 AM
 #1

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?

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September 13, 2017, 03:44:40 AM
 #2

you have to know who is your target customer? region?

what kind of service you want to provide? involve cash transaction? bank transfer? or just a middle man

different business, region requires different kyc, aml regulation

these are the basic questions to be answered before you move to legal compliance issue
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September 13, 2017, 03:46:52 AM
 #3

Same here. Do you have any develop skill? Currently open new exchange is not very hard, the hardest thing is how to bring people to join the exchange. Let us know if you have any step.

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September 13, 2017, 10:48:28 AM
 #4

Apart from getting good developer, marketing team, you also need lawyers to be sure that you don't brake any laws. I am sure that it is actually hard to build and even harder to promote because now there are lots of exchanges. However, I wish you good luck with that!

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September 13, 2017, 11:05:50 AM
 #5

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


it look like we are so many here we want to do the same things and I was doing research since last month and the more I think am close I find my self still far away because I want to make something new and my region and to make money as well so my advice to you dont reach and take your time
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September 13, 2017, 01:50:02 PM
 #6

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


Well it depends in which country you are currently living, different countries have different rules and regulations.

As for other things, you need trust worthy developers, plus you need to have high enough trust in the Bitcoin community, no one will trust you with their funds.

I will recommend you to stay out of it, it's not a newbie friendly business.
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September 13, 2017, 02:42:20 PM
 #7

i also think that exchanges is a kind of complicated businesses, but for the development you can use https://github.com/peatio/peatio, this is a secure relization of crupto currency exchange
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September 13, 2017, 05:04:43 PM
 #8

IMO, an exchange requires large capital. You have to find good developers team and consistently testing the sercurity of the exchange.

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September 13, 2017, 05:20:32 PM
 #9

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


Depending on the jurisdiction where you form your business, the legal requirements can vary from virtually none to extreme.  Lol.

It is also very complicated.  You have to make sure you're really committed to providing stellar service.  People would be trusting you with their funds -- a resilient and secure infrastructure is a must.

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September 13, 2017, 06:24:28 PM
 #10

Could i make an exchange in Canada? What are the regulations?
The marketting, I can do. I have a few telegram channels.
And know admins of 10 k plus members.

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September 13, 2017, 10:28:38 PM
 #11

I guess you need prepare some online bank, and some local bank.
Promote it in the facebook groups where people do the online business.
Example like : trading, forex, bitcoin, captcha, ptc, and many more.
And of course you need a lot of money to prepare, but you can start with a small one.
You can start with a few transactions in those groups.

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September 13, 2017, 11:01:01 PM
 #12

Yes it is a very nice idea, but you will need a lot of budget to make your own exchange, it is not easy to develop it. You need a good designer, a developer, a lot of people who you will need to hire.
Also how do you think you are gonna earn the trust of the users? it is not easy to make that. You need to learn a lot before making any type of sites like this
Good luck with that.

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September 13, 2017, 11:56:44 PM
 #13

Could i make an exchange in Canada? What are the regulations?
The marketting, I can do. I have a few telegram channels.
And know admins of 10 k plus members.

canada is equal USA in there is very dificult about regulation
is good if open only crypto exchange, altcoin exchange without fiat money

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September 14, 2017, 02:00:38 AM
 #14

Hi there.

I am wanting to make my own exchange.

Can you tell me some requirements I need to have in order to make one?
Do I need any legal documents in order to make my exchange?


It's almost similar to saying "i want to create my own bank" minus the brick and mortar branches.

Imagine what you would need to open such a bank. Lots of computing resources, staff (really good and trustworthy staff of course), AML and KYC regs and compliance requirements for the jurisdiction you will operate in (and more if you intend to expand internationally), lawyers who can advise you about incorporation and company creation regs, people who understand financial markets... you need all of those and more.

And then, being a new exchange, the most important element: you need to build trust. You want clients to send bitcoins or altcoins to your hot wallet. That requires trust. You promise to pay them after they execute trades. That requires trust.

It's not as simple as building a website overnight.


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September 14, 2017, 02:44:59 AM
 #15

Thanks for your replys!  Cheesy

Perhaps in a few years I might make my own exchange.
We will see  Smiley

But I definitley will make my own soon.


What about making an exchange just for my coin?
I made my own coin, and I would like to make a crypto exchange, but just for my coin to be traded with btc, eth and ltc

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September 14, 2017, 10:31:33 AM
 #16

What about making an exchange just for my coin?
I made my own coin, and I would like to make a crypto exchange, but just for my coin to be traded with btc, eth and ltc

If you search for altcoin exchange script, or altcoin exchange software on google or github you might get a few results that are ready to roll. Whatever software turns up may still need a bit of work to fine tune though but you could at least experiment. Make sure it's open source.

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September 14, 2017, 04:21:34 PM
 #17

What about making an exchange just for my coin?
I made my own coin, and I would like to make a crypto exchange, but just for my coin to be traded with btc, eth and ltc

If you search for altcoin exchange script, or altcoin exchange software on google or github you might get a few results that are ready to roll. Whatever software turns up may still need a bit of work to fine tune though but you could at least experiment. Make sure it's open source.

Thanks! I will look for such thing  Cheesy

Hopefully I find something.
Ill definitley use that for my own coin.
My coin exchange will have NO FEES at all!
So people can exchange freely.

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September 14, 2017, 04:47:52 PM
 #18

Thanks for your replys!  Cheesy

Perhaps in a few years I might make my own exchange.
We will see  Smiley

But I definitley will make my own soon.


What about making an exchange just for my coin?
I made my own coin, and I would like to make a crypto exchange, but just for my coin to be traded with btc, eth and ltc
When you make exchange you have to know all rules and it's better for you to find them local, not on this forum because maybe someone can't say everything truth. So after that you need a great team and money, exchange website has to have very high security.
Well, it's not easy and it's not a job which can be done by questions and answers on forum. You need good marketing, security and money. Also if you want your coin to be exchanged on btc, who will use that? If not only you?

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September 14, 2017, 04:52:56 PM
 #19

Thanks for your replys!  Cheesy

Perhaps in a few years I might make my own exchange.
We will see  Smiley

But I definitley will make my own soon.


What about making an exchange just for my coin?
I made my own coin, and I would like to make a crypto exchange, but just for my coin to be traded with btc, eth and ltc
When you make exchange you have to know all rules and it's better for you to find them local, not on this forum because maybe someone can't say everything truth. So after that you need a great team and money, exchange website has to have very high security.
Well, it's not easy and it's not a job which can be done by questions and answers on forum. You need good marketing, security and money. Also if you want your coin to be exchanged on btc, who will use that? If not only you?

Im making an ICO

My coin will have its own personal exchange.
SO if my coin has a hard fork, or something, I can do it quickly.
Unlike lets say yobit where I would have to wait a few days.

can you reccomend me some opensource altcoin exchange?

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September 15, 2017, 05:03:38 AM
 #20

Im making an ICO

My coin will have its own personal exchange.
SO if my coin has a hard fork, or something, I can do it quickly.
Unlike lets say yobit where I would have to wait a few days.

can you reccomend me some opensource altcoin exchange?

You are missing the point.

If you want people to deposit BTC or other cryptocurrencies into your wallet to trade in exchange for your coin, you need to build trust.

Admitting you have no clue on what you are doing is a step in the wrong direction of building trust.  Sad

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